August 5, 2022
Andrei Jikh
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Andre Jic gives a tour of his first real estate investment property in Las Vegas and shares the financial details and potential savings associated with it.

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Questions & Answers

Q: What are the financial details of Andre's real estate investment?

Andre purchased the house for $1,330,000 with a seven-to-one adjustable rate mortgage and a 20% down payment. His monthly payment, including property taxes and HOA fees, is approximately $5,232. He also benefits from tax deductions for property taxes, mortgage interest, and depreciation.

Q: How does Andre plan to make money with the rental property?

Andre intends to rent out the house for approximately $7,000 to $7,500 per month. By deducting the tax deductions mentioned earlier, he can offset his rental income and potentially save on taxes. Additionally, as he pays down the mortgage, he builds equity in the asset.

Q: What are the standout features of the house?

Some notable features of the house include the upgraded kitchen with calcutta quartz countertops, a built-in fridge, a wine cooler, and a unique circular-style cabinet. The open living room with recessed ceilings and the backyard with a pool and water feature are also highlights.

Q: Why did Andre choose to invest in real estate?

Andre explains that investing in real estate is a way to diversify his portfolio beyond digital assets like stocks, cryptocurrencies, and NFTs. He sees real estate as a reliable investment and wanted to provide a single-story home for his parents in the future.

Summary & Key Takeaways

  • Andre Jic showcases his first real estate investment property, a single-story house with three bedrooms and three and a half bathrooms in Las Vegas.

  • The property is located in a community with various amenities, including a private golf course, tennis courts, fitness center, and a restaurant.

  • Andre highlights the features of the house, such as the upgraded kitchen, built-in fridge, wine cooler, and spacious backyard with a pool.

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